Accounting

• John Kavanagh

Failure by successive governments to expand the coverage of the country’s anti-money laundering and counter-terrorism financing regime to cover non-financial businesses has earned Australia a poor rep.. read more

• John Kavanagh

The treasurer introduced a bill into Parliament yesterday that includes tougher regulation of financial market licensees and requirements for climate-related financial reporting. read more

• Banking Day staff

Westpac has moved its audit business from PwC, its auditor of 50 years, to KPMG.  read more

• John Kavanagh

Activity in Australia’s private debt market slowed markedly in 2023, with growth of 7 per cent in assets – down from 32 per cent in the previous year. read more

• George Lekakis

Bank of Queensland chairman Warwick Negus yesterday apologised to shareholders for manifold risk management failures at the company but rejected calls from shareholders for the board to ditch PwC as i.. read more

• John Kavanagh

The Australian Accounting Standards Board has been given the power to develop sustainability standards for financial reporting, following the passage of an amendment to the ASIC Act. read more

• Bernard Kellerman

Analysis of the four major banks' annual FY23 profits highlights that earnings, margins and profits – along with costs - were up by record amounts compared to recent years. read more

• Ian Rogers

Westpac has commenced a tender for its external audit services, and PwC has been told it need not apply. read more

• John Kavanagh

Debt buyer Pioneer Credit is suing its former auditor PricewaterhouseCoopers, alleging negligence, breach of retainer and misleading and deceptive conduct in relation to PwC’s advice about the company.. read more

• George Lekakis

Commonwealth Bank chairman Paul O’Malley copped a grilling from shareholders on Wednesday as they voiced concerns over the company’s progress in meeting climate targets, its response to the PwC govern.. read more

• John Kavanagh

Biodiversity reporting is now firmly on the corporate sustainability agenda, with the publication of the final recommendations of the Taskforce on Nature-related Financial Disclosures. read more

• John Kavanagh

Accounting and business management software company Xero has completed its exit from lending, selling its invoice finance business Waddle to Commonwealth Bank. read more

• George Lekakis

Klarna’s struggling local arm has taken steps to end having to prepare and lodge audited financial accounts in Australia, after the disclosure of recent operating losses highlighted weaknesses in the.. read more

• Ian Rogers

Cash profit will cease to be an element of the financial reporting practice of Westpac, beginning with its March 2023 half year. Hopefully this proves to be the beginning of a badly-needed reform move.. read more

• John Kavanagh

A bill giving the Australian Accounting Standards Board power to set climate-related and other sustainability standards for financial reporting was passed in the House of Representatives and introduce.. read more

• John Kavanagh

Accounting and business management software company Xero will 'exit' its lending business Waddle as part of a 'streamlining' program. read more

• George Lekakis

The Australian financial services industry sunk around $2 million into the major political parties last year, with banks and other financial providers directing most of their cash to the coalition par.. read more

• John Kavanagh

The government has set out its plan to give the Australian Accounting Standards Board power to set climate-related and other sustainability standards for financial reporting, in a draft bill released.. read more

• John Kavanagh

ANZ issued a statement yesterday confirming speculation that it is talking to private equity firm Kohlberg Kravis Roberts about buying the accounting and business management software company MYOB. read more

• Banking Day staff

The Treasurer has appointed lawyer Scott Farrell as a part-time member of the Payments System Board.  read more